caring for parents and kids the sandwich generation is suffering

Caring for parents and kids – the “sandwich” generation is suffering

caring for parents and kids the sandwich generation is suffering

Most Australians aren’t planning for their own long-term care. This is creating a major problem for the next generation, who still have their own kids to look after.

This mirrors what is happening in other western economies such as UK , Canada and USA.

Rising costs and fluctuating economic and health care are the new realities, so more than ever it is important to be proactive before a long-term event happens, to help ensure that you can still take care of your own needs, especially if you are caring for someone else’s well-being.

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science fiction in estate planning

Science Fiction in Estate Planning

science fiction in estate planning

Could there ever be a legal expectation of a “use-by date” for humans?

We might scoff at such an outlandish notion, and relegate it to science-fiction, but should we be so quick to dismiss it entirely?

If Walt Disney wants to spend his own money to cryogenically freeze his body immediately after his death, in the hope that one day medical science will be able to cure him, then most people would probably shrug and say “So what – it doesn’t affect me.”

But what if a person with limited assets wanted to do this, with the effect that their entire deceased estate would be consumed by the expense.  Would the law (driven by societal expectation) permit that person’s children to over-rule the deceased’s wishes, switch-off the freezer and spend the savings?

You might argue that the person was already dead, but does this automatically forfeit all human rights, and if so are we truly “dead” while there remains some hope for recovery?

Let’s take it one step further: What if the patient has not died, but medical science permits his doctors to preserve his body in a form of coma indefinitely (again in the hope of benefitting from further advances in medical science in the future). If he is still “alive” then should he be permitted to spend his own money, regardless of any limit to the normal human life-span?  Should there be any limits? Who decides?  Should the rest of us be required to contribute towards the expense of his longevity (via Medicare & Centrelink, funded by our taxes)?

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7 essential things an estate executor must do

7 Essential Things an Estate Executor Must Do

7 Essential Things an Estate Executor Must Do

An Executor is the person appointed in the Will of a deceased person with the lawful authority to administer the deceased estate.

An Executor has a special responsibility – known as fiduciary duty – to hold the estate in trust for the beneficiaries, and to act in the best interests of the estate.

Here are 7 things every Executor should do:

1.Consult a Senior Lawyer who Specialises in Deceased Estates

Unless the Will contains a specific direction, it’s up to the Executor to decide which lawyer to retain, but here’s a tip to keep in mind: A specialist lawyer will be faster and better for the estate and provide better protection for the Executor. Executors are performing a legal function, and there are hidden risks which can come back to bite the unwary Executor.

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the best new years resolution to help your family

The Best New Year’s Resolution to Help Your Family

the best new years resolution to help your family

Another year has passed and 2018 is already here. The New Year is a time of optimism and noble resolutions to quit bad habits, get organised, pay off debt and save money. It’s a good time to take a look at your estate plan to make sure it is in place and up to date.

Your estate planning documents determine who will receive your property when you die, and also determine who has the right to make financial and major medical decisions during your lifetime. Getting your estate plan right will save money and heartbreak for you and your family.

Less than half of adult Australians have any estate planning documents in place and many of those people may have outdated documents. Documents that were created when you first got married or when your children were born may need updating years later, after your family and financial situation have changed entirely.

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More Weird Probate Issues

weird probate Issues

Making a Will is serious business. It sets out your final wishes, determines who benefits from your estate, and protects the people you love. Yet the historical record is full of testators who approached the exercise with, shall we say, considerable imagination. This article continues our popular series on extraordinary probate cases drawn from estate law history.
We offer these not merely for entertainment, but because each case teaches a valuable lesson about what can go wrong when an estate plan is ill-conceived, ambiguously expressed, or legally deficient.

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weird probate Issues

Weird Probate Issues

weird probate Issues

If you’ve been named the executor of a Will, you might experience a wide range of emotions upon your loved one’s passing.

In addition to going through the grieving process, you might feel overwhelmed by your responsibilities in carrying out the deceased’s wishes.

You may have even heard horror stories about probate that leave you wondering where to begin, but you can relax knowing that your specialist estate lawyer at Genders & Partners can help you navigate any obstacles you face regarding probate & deceased estates in Adelaide.

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Genders and Partners | 7 Reasons why Australian women outlive their Estate Plan

7 Reasons why Australian women outlive their Estate Plan – and what to do about it

Genders and Partners | 7 Reasons why Australian women outlive their Estate Plan

Australian women’s life expectancy is now at its highest ever recorded, and is one of the highest in the world, according to recently released research from the Australian Bureau of Statistics.

The average life expectancy for females is now 84.6 years and for males it is 80.4 years, and these figures demonstrate huge gains in life expectancy over the last century since the Aged Pension was initially introduced in Australia in 1909 when the average life expectancy was below the eligibility age.

At that time it was anticipated that most people would not live long enough to receive the pension, and those that did would not get it for long.

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Wills In Adelaide: The Responsibilities Of An Estate Executor

What Does an Executor of a Deceased Estate Do?

What Does an Executor of a Deceased Estate Do?

Your loved one has entrusted you to administer their estate, and you probably feel overwhelmed with the burden of this responsibility in the midst of your grief. Depending on the size of the estate, your duties can become quite complicated, but the Adelaide Probate & Estate law specialists at Genders & Partners can guide you through the process to ensure that you carry out your responsibilities with a minimum of stress.

Locating the Will and Safeguarding Assets
As executor, your first job after the person’s death is to locate the original Will, which may be with the deceased’s important papers or held securely at a trustee company or lawyer’s office. If you do not have the original in hand right away, you can still work with a copy to familiarise yourself with the contents and make funeral arrangements according to the person’s wishes.

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Critical Importance of Making a Will to Protect Children’s Inheritance From Previous Relationships

Protecting Children from Previous Relationships: The Critical Importance of a Well-Drafted Will

Critical Importance of Making a Will to Protect Children From Previous Relationships

Modern family structures are more complex than at any previous time. Many Australians have children from more than one relationship, and may be in a subsequent marriage or domestic partnership with a partner who also has children of their own. Without careful estate planning, the competing interests of these various family members can produce outcomes upon your death that would cause you considerable distress if you could foresee them. This article explains why a well-drafted Will is indispensable for anyone with children from a previous relationship.

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End-of-Life-Planning-Adelaide-Wills-and-Testamentary-Trusts-lawyer.jpg

End-of-Life Planning

End-of-Life Planning

Deciding how you want to live out your last days is a touchy subject for most people, but if you don’t take the time to do so now, you and your loved ones could end up suffering needlessly. While you are still of sound mind, you need to determine whom you trust to make decisions about your lifestyle and medical care if you are ever incapacitated.

An expert Adelaide estate planning lawyer can document your end-of-life wishes with an Advance Care Directive to help you attain peace of mind about your future and get back to the business of living in the moment.

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